Sabre Gold Mines Corp. announced it has completed a Preliminary Economic Assessment ("PEA") on the 100% owned Copperstone Mine ("Copperstone" or "Project") in Arizona, USA. The study has resulted in robust post-tax economics which, due to pre-existing infrastructure on surface and underground, result in both low initial capital and an overall low capital intensity ratio on a per ounce basis.

The project benefits from its significant tax assets and recently reduced royalty encumbrance while also having potential for resource expansion and further exploration success. The Preliminary Economic Assessment supports a high-grade gold underground mining operation at Copperstone producing an average of 40,765 payable oz gold per year for just over a 5-and-a-half-year mine life. Sabre Gold management worked with Hard Rock Consulting, LLC ("HRC") to complete the PEA, which included comprehensive reviews of the construction, operations and costs, to provide confidence for potential project commencement and completion within budget and schedule.

Trade off studies will continue on initial capital items and initial earthworks will commence as soon as the Company moves towards a formal construction decision. The Company will also continue to have discussions with potential providers of initial construction capital. In accordance with National Instrument 43-101, the Company has engaged HRC to complete a technical report in support of the PEA, which will be filed on SEDAR within 45 days of this news release.

The Company notes that mineral resources are not mineral reserves as they do not have demonstrated economic viability. The Company notes that a preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic consideration applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.